As Congress discusses the various ways to fund vital infrastructure investments, I hope my former colleagues will be mindful of the harm a corporate tax hike would impose on job-creating businesses and the workers they employ. Indeed, a range of recent studies makes clear that it is not merely important but imperative for policymakers to refrain from raising America’s competitive corporate tax rate. This is particularly important as our country works to defeat one pandemic and nervously monitors the rise of the delta variant.

Looking back prior to the COVID-19 crisis, a competitive corporate income tax rate resulted in several economic achievements that underscored why it had long been a bipartisan priority. For example, our new tax code helped generate scores of meaningful economic wins and foster a climate in which our country’s unemployment rate routinely remained below 4%, our economy created more than 100,000 private sector jobs each month, nominal wage growth hovered at or above 3% growth for almost two consecutive years, actual GDP was roughly $300 billion higher than the Congressional Budget Office’s 2017 projection by the end of 2019, and U.S. companies brought home $1.4 trillion in cash.